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MNB Bonds Soak up Banking Sector Liquidity in March

MNB

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The average stock of National Bank of Hungary (MNB) bonds rose in March, indicating an increase in the banking sector's forint liquidity, the central bank said on Tuesday, according to a report by state news wire MTI.

The average stock of MNB bonds rose by HUF 355 bln to HUF 1.336 trillion during the month, MNB data show.

The average stock of the O/N deposits allocated at daily quick tenders fell by HUF 297 bln to HUF 6.698 tln. MNB launched daily tenders for the fixed-rate O/N deposits, at a rate of 18%, well over the 13% base rate, in mid-October.

The data show banks' had HUF 2.419 tln on their reserve accounts during March, up from HUF 2.32 tln in February.

Currency in circulation edged down HUF 41 bln to HUF 8.142 tln during the month.

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